PFC postpones opening price bids of two UMPPs

NEW DELHI: Power Finance Corporation has postponed opening the price bids for the first two ultra mega power projects, to be set up in Madhya Pradesh and Gujarat, tentatively to December 18.

PFC was scheduled to open the price bids for Sasan and Mundra projects on Friday, but could not due to the absence of Punjab National Bank Chairman S C Gupta, who heads the apex committee that is evaluating the bids, official sources said.

The tariff-based bids are now likely to be opened on December 18, the sources said, adding the deadline for awarding the projects by December 29 remained unchanged.

PFC is the nodal agency responsible for conducting the bidding of ultra mega power plants.